The global electric actuators market at a CAGR of almost 7% during the forecast period

Date :

09/11/2019 @ 2:50PM

Source :

PR Newswire (US)

The global electric actuators market at a CAGR of almost 7% during the forecast period

NEW YORK, Sept. 11, 2019 /PRNewswire/ --

Global Electric Actuators Market: About this marketThis electric actuators market analysis considers sales from both linear actuators and rotary actuators . Our analysis also considers the sales of electric actuators in APAC, Europe, North America, South America, and MEA. In 2018, the linear actuators segment had a significant market share, and this trend is expected to continue over the forecast period. Factors such as precise control of speed, acceleration, position, and torque will play a significant role in the linear actuators segment to maintain its market position. Also, our global electric actuators market report looks at factors such as growing demand for commercial and defense aircraft, increasing use of electric actuator in industrial robots and automation, and growing demand for smart actuators. However, the risk from faulty and loosely insulated electric actuators and their malfunctions, fluctuating raw material prices, and high initial set up cost for end-users of electric actuators may hamper the growth of the electric actuators industry over the forecast period.

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Global Electric Actuators Market: OverviewGrowing demand for commercial and defense aircraft The demand for commercial and defense aircraft fleet is increasing globally due to increasing air passenger traffic. Electric actuators also reduce the burden on maintenance personnel as they are more reliable compared to conventional actuators. Electric actuators are a cost cost-effective and viable alternative solution instead of existing hydraulic and pneumatic actuator systems in commercial and defense aircraft. This helps in improving the performance and provide accurate control and faster reaction time. For instance, United Airlines recently announced its plans to include 40 new mainline aircraft to its fleet. This will lead to the expansion of the global electric actuators market at a CAGR of almost 7% during the forecast period. Growing use of electric actuators in smart homes Electric actuators will be used in smart homes in applications such as providing linear motion for objects including recliners, blinds, pergolas, sit-stand desks, and kitchen appliances. For example, electric actuators are used in sit-stand desks to adjust the height. Therefore, the growth in the number of smart homes is expected to have a positive impact on the global electric actuators market growth.

Competitive LandscapeWith the presence of several major players, the global electric actuators market is fragmented. This robust vendor analysis is designed to help clients improve their market position, and in line with this, this report provides a detailed analysis of several leading electric actuators manufacturers, that include ABB Ltd., Emerson Electric Co., General Electric Co., LINAK AS, Moog Inc., Parker-Hannifin Corp., Rotork Plc, Siemens AG, SMC Corp., Toshiba Corp. Also, the electric actuators market analysis report includes information on upcoming trends and challenges that will influence market growth. This is to help companies strategize and leverage on all forthcoming growth opportunities.

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